March 28, 2024
Loans

What are the most common ways you could be scammed?

With the burden of education debt weighing heavily on many individuals, it’s no surprise that numerous student loan forgiveness scams have emerged, targeting borrowers seeking relief. Despite efforts by the Federal Trade Commission (FTC) to combat such scams, new fraudulent entities continue to surface each year. This issue has become even more pressing with President

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Loans

How does the program work and is it worthwhile for student loans payment?

The Public Service Loan Forgiveness (PSLF) program has been a beacon of hope for many Americans burdened by student loan debt. Established in 2007, the PSLF program aims to provide relief to individuals working in qualifying public service jobs by forgiving their remaining federal student loan balance after 120 qualifying monthly payments. What are the

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Loans

How does IDR work for student loan forgiveness?

Income-driven repayment (IDR) plans provide relief for federal student loan borrowers by capping monthly payments based on income and family size. These plans offer a path towards loan forgiveness after 20 or 25 years of repayment, depending on the specific IDR plan in place. The recent adjustments announced by the Department of Education (ED) aim

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Loans

When is the federal government cuting student loans again?

President Joe Biden‘s efforts to provide widespread federal student loan debt forgiveness have faced significant opposition from lawmakers and legal authorities. Despite this, his administration remains committed to exploring various options for providing relief to borrowers. In a recent announcement, the administration revealed plans to eliminate approximately $1.2 billion in debt for over 150,000 borrowers

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Loans

What are the requirements to apply for this program?

If you’re a teacher with federal student loans, navigating the various loan forgiveness programs can be overwhelming. However, understanding the requirements and eligibility criteria can help you make informed decisions about which programs may be suitable for you. Among the options available are Public Service Loan Forgiveness, Teacher Loan Forgiveness, Perkins Loan cancellation for teachers,

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Loans

Will your tax refunds be cut if you have your student loans garnished?

In the United States of America, there was a recent legislation that passed aimed to help all people with student loans. As one of the best ways for Universities to become wealthier was by offering their student loan program. Education in American society is amongst the most expensive around the world. Defaulting on a federal

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Loans

Can you still apply for student loan forgiveness this year?

The recent income-driven repayment (IDR) account adjustment resulting in over 800,000 long-term federal student loan borrowers having their loans forgiven has significant implications for borrowers, particularly those enrolled in IDR plans. While automatic forgiveness applies primarily to those in repayment for 20 or 25 years, newer borrowers can still benefit from the program, even if

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Loans

How long will the Fresh Start program last for student loans?

Commencing with the restart of federal student loan bills in October 2023, the Fresh Start initiative provides a golden opportunity for borrowers who defaulted before the pandemic. Fresh Start is exclusively available to borrowers with federal student loans, provided they defaulted before the forbearance began on March 13, 2020. Certain loan types, such as private

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Loans

Who is eligible to get their student loans cut off next?

In a surprising move, some student borrowers could be in for a pleasant surprise next month as President Joe Biden announces a plan for debt forgiveness. If you’ve taken out less than $12,000 in loans and have been in repayment for a decade, your remaining loan balance could be “canceled immediately” under the new Saving

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Loans

Can your student loans be erased if they are defaulted?

In the United States, Public Service Loan Forgiveness (PSLF) is the most common method people use to have their student loansforgiven. In certain situations, you can apply to your federal student loans forgiven, canceled, or discharged. That means you won’t have to pay back some or all of your loan(s). The Joe Biden administration has

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